Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Junior Can't Borrow PDF full book. Access full book title Junior Can't Borrow by George M. Constantinides. Download full books in PDF and EPUB format.
Author: George M. Constantinides Publisher: ISBN: Category : Bonds Languages : en Pages : 34
Book Description
Ongoing questions on the historical mean and standard deviation of the return on equities and bonds and on the equilibrium demand for these securities are addressed in the context of a stationary, overlapping-generations economy in which consumers are subject to a borrowing constraint. The key feature captured by the OLG economy is that the bulk of the future income of the young agents is derived from their wages forthcoming in their middle age, while the bulk of the future income of the middle-aged agents is derived from their savings in equity and bonds. The young would like to borrow and invest in equity, but the borrowing constraint prevents them from doing so. The middle-aged choose to hold a diversified portfolio that includes positive holdings of bonds, and this explains the demand for bonds. Without the borrowing constraint, the young borrow and invest in equity, thereby decreasing the mean equity premium and increasing the rate of interest
Author: George M. Constantinides Publisher: ISBN: Category : Bonds Languages : en Pages : 34
Book Description
Ongoing questions on the historical mean and standard deviation of the return on equities and bonds and on the equilibrium demand for these securities are addressed in the context of a stationary, overlapping-generations economy in which consumers are subject to a borrowing constraint. The key feature captured by the OLG economy is that the bulk of the future income of the young agents is derived from their wages forthcoming in their middle age, while the bulk of the future income of the middle-aged agents is derived from their savings in equity and bonds. The young would like to borrow and invest in equity, but the borrowing constraint prevents them from doing so. The middle-aged choose to hold a diversified portfolio that includes positive holdings of bonds, and this explains the demand for bonds. Without the borrowing constraint, the young borrow and invest in equity, thereby decreasing the mean equity premium and increasing the rate of interest
Author: Thorsten Hens Publisher: World Scientific ISBN: 9811221960 Category : Business & Economics Languages : en Pages : 573
Book Description
This book provides a comprehensive overview of the emerging field of cultural finance. It summarizes research results of cultural differences in financial decision making and financial markets. Many of the results have been published in leading academic journals over the last ten years but some are presented here for the first time. The book is based on an international survey on risk and time preferences — the INTRA study, conducted in 53 countries worldwide. Applications to financial markets include the equity premium puzzle, the value premium, dividend payout policies and asset allocations.
Author: Bing Cheng Publisher: World Scientific ISBN: 9812832505 Category : Business & Economics Languages : en Pages : 91
Book Description
Modern asset pricing models play a central role in finance and economic theory and applications. This book introduces a structural theory to evaluate these asset pricing models and throws light on the existence of Equity Premium Puzzle. Based on the structural theory, some algebraic (valuation-preserving) operations are developed in asset spaces and pricing kernel spaces. This has a very important implication leading to practical guidance in portfolio management and asset allocation in the global financial industry. The book also covers topics, such as the role of over-confidence in asset pricing modeling, relationship of the portfolio insurance with option and consumption-based asset pricing models, etc.
Author: Susan Tifft Publisher: Simon and Schuster ISBN: 0671797077 Category : Biography & Autobiography Languages : en Pages : 596
Book Description
The Patriarch traces the turbulent history of one of the nation's most powerful newspaper companies and the family that built it. Based on years of archival research and interviews with Bingham intimates, it is a searing examination of three generations of an American family beset with mystery and vicious rivalry. 16 pages of photos.
Author: Lasse Heje Pedersen Publisher: Princeton University Press ISBN: 0691196095 Category : Business & Economics Languages : en Pages : 368
Book Description
Efficiently Inefficient describes the key trading strategies used by hedge funds and demystifies the secret world of active investing. Leading financial economist Lasse Heje Pedersen combines the latest research with real-world examples and interviews with top hedge fund managers to show how certain trading strategies make money--and why they sometimes don't. Pedersen views markets as neither perfectly efficient nor completely inefficient. Rather, they are inefficient enough that money managers can be compensated for their costs through the profits of their trading strategies and efficient enough that the profits after costs do not encourage additional active investing. Understanding how to trade in this efficiently inefficient market provides a new, engaging way to learn finance. Pedersen analyzes how the market price of stocks and bonds can differ from the model price, leading to new perspectives on the relationship between trading results and finance theory. He explores several different areas in depth--fundamental tools for investment management, equity strategies, macro strategies, and arbitrage strategies--and he looks at such diverse topics as portfolio choice, risk management, equity valuation, and yield curve logic. The book's strategies are illuminated further by interviews with leading hedge fund managers: Lee Ainslie, Cliff Asness, Jim Chanos, Ken Griffin, David Harding, John Paulson, Myron Scholes, and George Soros.
Author: George M. Constantinides
Author: George M. Constantinides
Author: Florida Education Association
Author: Cassius Marcellus Clay
Author: Thorsten Hens
Author: Bing Cheng
Author: Mary E. Clark
Author: 
Author: Susan Tifft
Author: Richard Henry Dana (Jr.)
Author: Lasse Heje Pedersen